SUMMIT HOUSING DEVELOPMENT CORP

EIN: 341703387 501(c)(3) Housing & Shelter

CUYAHOGA FALLS, OH

Total Revenue
$5,540,946
Total Expenses
$2,877,826
Total Assets
$30,613,025
Net Assets
$18,182,677
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
OH
Principal Officer
THOMAS JACOBS
Phone
2345713244
Tax Period
2023-01-01 to 2023-12-31

SUMMIT HOUSING DEVELOPMENT CORP, founded in 1992, is a community nonprofit in the Housing & Shelter sector that reported $5.5M in total revenue in fiscal year 2023. Revenue surged 68% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.7M, a strong 48% operating margin.

Mission

SUMMIT HOUSING DELEVOPMENT CORPORATION (SHDC) STARTED IN 1992 AS A PRIVATE, NON-PROFIT CORPORATION WITH THE PURPOSE OF DELEVOPING, ACQUIRING, AND MANAGING HOUSING FOR THOSE WITH DEVELOPMENTAL DISABILITIES.

Program Service Accomplishments

Program 1
Expenses: $2,215,903 Revenue: $3,716,028

DURING 2022, SUMMIT HOUSING DEVELOPMENT CORPORATION OWNED AND MANAGED 240 RESIDENTIAL PROPERTIES THAT WERE LEASED TO DEVELOPMENTALLY DISABLED INDIVIDUALS BASED ON CHOICE, NEED, ACCESSIBILTY AND...

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DURING 2022, SUMMIT HOUSING DEVELOPMENT CORPORATION OWNED AND MANAGED 240 RESIDENTIAL PROPERTIES THAT WERE LEASED TO DEVELOPMENTALLY DISABLED INDIVIDUALS BASED ON CHOICE, NEED, ACCESSIBILTY AND LOCATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,824,918
Program Service Revenue $3,488,899
Investment Income $225,589
Other Revenue $1,540
TOTAL REVENUE $5,540,946

Expense Breakdown

Grants Paid $5,000
Salaries & Benefits $581,346
Fundraising Expenses $0
Program Expenses $2,215,903
Other Expenses $2,291,480
TOTAL EXPENSES $2,877,826

Year-over-Year Comparison

2023 2022 Change
Revenue $5,540,946 $3,300,890 +0.7%
Expenses $2,877,826 $2,912,359 0.0%
Net Income $2,663,120 $388,531 +5.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
10
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$234,923
Total Directors
7
$234,923
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS JACOBS EXECUTIVE DI 40.00
Officer Director
$234,923 $0 $234,923
STAN DEBRO TRUSTEE 1.00
Director
$0 $0 $0
LINDA EVANS TRUSTEE 1.00
Director
$0 $0 $0
CHRIS FILLER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
JONATHAN GRAHAM SECRETARY 1.00
Officer Director
$0 $0 $0
SARA KLINE PRESIDENT 2.00
Officer Director
$0 $0 $0
BARB VIMONT TRUSTEE 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $5,540,946 $2,877,826 $30,613,025 $2,663,120
2022 $3,300,890 $2,912,359 $26,427,425 $388,531
2021 $6,108,659 $2,073,819 $24,042,043 $4,034,840
2020 $2,496,563 $1,849,603 $17,908,688 $646,960
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